Are you interested in developing an automated trading system? If so, Episode 56 is especially for you. Rob Booker is joined by trading blogger Jennifer Thornburg to discuss the challenges of turning a discretionary trading system into a mechanical one.
In this show Rob asserts that even though many people think they have a rule-based trading system, most people don’t. Rob and Jennifer discuss why traders try to fool themselves into thinking they have a rule-based system, while addressing the disparity between what we think we’re doing and what we’re actually doing.
Rob and Jennifer answer the following questions: What’s the first thing you might do in order to turn a discretionary trading system into a mechanical one? What should you look for in a programmer — and what things should you watch out for when making your agreement with a programmer? How can you protect your trading system from being taken by someone who is programming it for you?
Rob also gives you a ballpark range of about how much you should spend per hour to get your programming done, and he also lists a number of items that you should pay an attorney to help you protect.
If you’re considering your very own automated trading system, then Episode 56 is a must-listen!
Follow Jennifer Thornburg on Twitter: @JenTho3